{"id":24406,"date":"2015-02-09T06:02:42","date_gmt":"2015-02-09T06:02:42","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=24406"},"modified":"2024-04-03T13:22:52","modified_gmt":"2024-04-03T07:52:52","slug":"financial-conglomerates","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/financial-conglomerates\/","title":{"rendered":"financial conglomerates"},"content":{"rendered":"<p style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/02\/financial-conglomerates.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-25564\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/02\/financial-conglomerates.jpg\" alt=\"financial-conglomerates\" width=\"208\" height=\"198\" \/><\/a><\/p>\n<p>Briault \u00a0defined a financial conglomerate as a firm that undertakes at least two\u00a0of five financial activities:intermediary\/payments, insurance, securities\/corporate finance,\u00a0fund management and advising on or selling investment products to retail customers. He\u00a0reports that while in 1978 the vast majority of UK banks engaged in just one of these five\u00a0activities, by 1998, 8 firms were authorised to offer all five functions, 13 were authorised to\u00a0offer four, and more than 50 were authorised to offer three.\u00a0The Briault figures are for the UK, but rapid growth of financial conglomerates is taking\u00a0place in the world\u2019s key financial sectors. Financial reform (e.g., \u2018\u2018big bangs\u2019\u2019) in many\u00a0countries eliminating (to some degree, depending on the country) segmented financial\u00a0sectors has encouraged banks to become part of financial conglomerates. Given the nature\u00a0of most activities listed above, virtually all conglomerates are global.\u00a0Briault identified the advantages and disadvantages of financial conglomerates. First,the efficiency of the financial system is improved if these conglomerates can achieve\u00a0economies of scale and scope . Economies of scale is a long-run concept, where all factors\u00a0of production (e.g., labour, capital, property) are variable. An equiproportional increase in\u00a0factor inputs leads to a greater than equiproportional increase in output. Firms operate on\u00a0the falling part of their average cost curves. For example, suppose there are three factor\u00a0inputs: deposits, labour, property and one output: loans. Then, in the presence of economies\u00a0of scale, the doubling of deposits, labour and property would result in loans more than\u00a0doubling.<\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/accounting-banking-and-finance\">Click here for government certification in Accounting, Banking &amp; Finance<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Briault \u00a0defined a financial conglomerate as a firm that undertakes at least two\u00a0of five financial activities:intermediary\/payments, insurance, securities\/corporate finance,\u00a0fund management and advising on or selling investment products to retail customers. He\u00a0reports that while in 1978 the vast majority of UK banks engaged in just one of these five\u00a0activities, by 1998, 8 firms were authorised to&#8230;<\/p>\n","protected":false},"author":625,"featured_media":25564,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1519],"tags":[3790,2229,2399],"class_list":["post-24406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-banking-and-finance","tag-concept","tag-finanancial-conglomerates","tag-meaning"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>financial conglomerates - Vskills Blog<\/title>\n<meta name=\"description\" content=\"Which firms are financial conglomerates? Apply for a Vskills certification in Finance now. 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